S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
pixel
S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
pixel
S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
pixel
S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
pixel
Log in

Nexa Resources (NYSE:NEXA) Downgraded by Zacks Investment Research

Thursday, January 14, 2021 | MarketBeat

Nexa Resources (NYSE:NEXA) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, "Nexa Resources S.A. is an integrated zinc producer. It engaged in developing and operating mining and smelting assets primarily in Latin America. The Company operates and owns principally in the Central Andes of Peru and in the state of Minas Gerais in Brazil. Nexa Resources S.A. is headquartered in Luxembourg City. "

NEXA has been the subject of several other research reports. Bradesco Corretora raised shares of Nexa Resources from an "underperform" rating to a "neutral" rating and set a $7.00 target price for the company in a research note on Friday, October 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Nexa Resources from a "neutral" rating to a "buy" rating in a research note on Monday, December 7th. Finally, Smith Barney Citigroup raised shares of Nexa Resources from a "neutral" rating to a "buy" rating in a research note on Monday, December 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of "Hold" and an average target price of $5.32.

Shares of NEXA stock opened at $9.07 on Thursday. The firm has a 50-day moving average price of $8.58 and a 200 day moving average price of $7.11. Nexa Resources has a twelve month low of $2.57 and a twelve month high of $10.41. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -1.96 and a beta of 1.62. The company has a current ratio of 1.94, a quick ratio of 1.66 and a debt-to-equity ratio of 1.12.

Nexa Resources (NYSE:NEXA) last announced its earnings results on Thursday, October 29th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.15. Nexa Resources had a negative net margin of 32.17% and a negative return on equity of 3.22%. The firm had revenue of $537.83 million during the quarter, compared to the consensus estimate of $474.35 million. As a group, research analysts predict that Nexa Resources will post -0.9 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of NEXA. State Street Corp grew its holdings in shares of Nexa Resources by 4.3% during the 3rd quarter. State Street Corp now owns 76,481 shares of the company's stock worth $405,000 after purchasing an additional 3,176 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Nexa Resources during the 1st quarter worth about $72,000. California Public Employees Retirement System grew its holdings in shares of Nexa Resources by 6.4% during the 3rd quarter. California Public Employees Retirement System now owns 106,316 shares of the company's stock worth $562,000 after purchasing an additional 6,410 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Nexa Resources by 2,195.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 14,166 shares of the company's stock worth $75,000 after purchasing an additional 13,549 shares during the period. Finally, Man Group plc purchased a new stake in shares of Nexa Resources during the 2nd quarter worth about $114,000. 8.42% of the stock is owned by institutional investors.

Nexa Resources Company Profile

Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. It also produces copper, lead, silver, and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.

Further Reading: How to read a candlestick chart

Get a free copy of the Zacks research report on Nexa Resources (NEXA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nexa Resources (NYSE:NEXA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


13 Stocks Institutional Investors Won't Stop Buying

University endowments, pension funds, sovereign wealth funds, hedge funds, and other institutional investors pour money into a group of 13 elite stocks.

These institutional investors don't get easily swayed by hot stocks that are popular with retail investors. You probably won't see a Tesla or a SnapChat in this group because institutional investors know that these "popular kid" stocks almost always aren't great investments. However, you will find some excellent companies on this list backed by real earnings and real fundamentals.

We had to comb through every 13D and 13F filing that institutional investors have filed with the SEC in the last quarter to identify these stocks. After reviewing more than 5,000 filings, we have identified 13 companies that institutional investors have been buying left. Big money investors are pouring hundreds of millions of dollars into these stocks.

View the "13 Stocks Institutional Investors Won't Stop Buying".

Free Email Newsletter

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.